Additional Requirements Relating to Certain Capital Improvements Clause Samples

Additional Requirements Relating to Certain Capital Improvements. A. Prior to commencing construction of any additions or modifications to any structural element of any Hotel, the cost of which is reasonably estimated to exceed $300,000, as adjusted as provided below (other than Renovations made pursuant to the Renovation-Related Agreements) (a “Capital Addition”) (other than any Capital Addition which is reasonably required to be made immediately in order to prevent imminent damage or danger to person or property or to subject Manager, Tenant or Landlord to criminal liability), Manager shall submit, to Tenant and Landlord in writing, a proposal setting forth, in reasonable detail, any such proposed improvement and cost estimate therefor and shall provide to Tenant and to Landlord such plans and specifications, and such permits, licenses, contracts and such other information concerning the same as Landlord or Tenant may reasonably request. Landlord and Tenant shall have twenty (20) Business Days to approve or disapprove all materials submitted to Landlord or Tenant, as the case may be, in connection with any such proposal. Failure of Landlord or Tenant to respond to Manager’s proposal within twenty (20) Business Days after receipt of all information and materials requested by Landlord or Tenant (if applicable) in connection with the proposed improvement shall be deemed to constitute approval of the same by the failing party. B. In the event any dispute shall arise with respect to the withholding of any approval by either Landlord or Tenant, Manager shall meet with Landlord and Tenant to discuss the objections of Landlord or Tenant, and Manager, Landlord and Tenant shall attempt in good faith to resolve any disagreement relating to the proposal submitted by Manager. If after sixty (60) days such disagreement has not been resolved, any party may submit the issue to the Expert in accordance with Section 11.23.B. No Capital Addition shall be made which would tie-in or connect a Hotel with any other improvements on property adjacent to such Hotel (and not part of the Site) including, without limitation, tie-ins of buildings or other structures or utilities (other than connections to public utilities). Manager shall not finance the cost of any construction of such improvements by the granting of a lien on, or security interest in, such Hotel or Manager’s interest therein without the prior written consent of Landlord, which consent may be in Landlord’s sole discretion. C. The $300,000 limit referred to above shall be increased ...